01 Stock Market

The U.S. major indexes closed as follows: Dow Jones declined 0.16% at 49,230.71; S&P 500 rose 0.80% at 7,165.08; NASDAQ advanced 1.63% at 24,836.60. A rebound in mega-cap technology shares and a broad rally in chipmakers helped the growth-heavy NASDAQ outperform its peers, while the blue-chip Dow slipped as defensive sectors lagged.

Chip leaders dominated the list of unusual movers. Intel (INTC) surged 23.60% at $82.54 after a stronger-than-expected earnings report and upbeat guidance. Momentum spread across the semiconductor complex: Advanced Micro Devices (AMD) jumped 13.91% at $347.81, NVIDIA (NVDA) climbed 4.32% at $208.27, and foundry giant Taiwan Semiconductor (TSM) gained 5.17% at $402.46. Leveraged tracker SOXL soared 13.79% at $128.32, while its bearish counterpart SOXS fell 13.89% at $13.52. Outside the megacaps, specialty names posted eye-catching spikes, with MaxLinear (MXL) vaulting 76.12% at $60.32, optical player POET Technologies (POET) leaping 28.84% at $15.10, and Applied Optoelectronics (AAOI) rising 17.74% at $162.17. Electric-vehicle bellwether Tesla (TSLA) inched up 0.69% at $376.30 as investors digested mixed delivery data.

The day’s action underscored investors’ renewed confidence in artificial-intelligence and data-center themes. Strength in the semiconductor supply chain helped lift broader technology ETFs such as QQQ up 1.91% at $663.88, while demand for downside hedges eased, pushing SQQQ down 5.68% at $52.50. With chipmakers now driving market leadership, participants will watch forthcoming earnings and inflation data to gauge whether the rally can broaden beyond tech.

02 Other Markets

U.S. 10-year Treasury yield fell by 0.30%, latest at 4.31%.

USD/CNH rose 0.03%, at 6.87; USD/HKD rose 0.04%, at 7.84.

U.S. Dollar Index fell 0.28%, at 98.51.

WTI crude futures declined 1.01%, at 94.88 USD/bbl; COMEX gold futures rose 0.03%, at 4,725.40 USD/oz.

03 Top News

1. Intel’s earnings beat and upbeat outlook ignited a sector-wide chip rally. The company topped first-quarter estimates and guided second-quarter sales higher on booming AI-server demand. The surprise lifted Intel’s market value by over $60 billion and spurred a double-digit jump in several semiconductor peers.

2. MaxLinear reported a first-quarter revenue surge and bullish guidance, propelling its shares 76% higher. Management cited strong optical-connect orders from hyperscale data-center clients. The results mark an inflection point for the radio-frequency specialist, according to analysts.

3. Meta Platforms plans to cut about 8,000 positions and deploy AI-driven workflow tools to streamline operations. Executives said flatter teams and automated agents will accelerate the firm’s transition to an “AI-native” structure. Internal memos indicate some employee concern over job security and data tracking.

4. Oracle is moving ahead with roughly $50 billion in new debt and equity financing to fund massive OpenAI-linked data-center projects. Banks are close to syndicating construction loans despite concentration-risk constraints. The capital raise underpins Oracle’s multistate expansion of high-performance cloud facilities.

5. The Department of Justice is expected to drop its criminal probe of Federal Reserve Chair Jerome Powell. Officials plan to refer alleged cost overruns at the Fed’s headquarters to the central bank’s inspector general instead. The move removes a hurdle to confirming Powell’s successor.

6. The White House extended a shipping waiver to ease global oil-supply tightness amid Middle East tensions. Temporarily relaxed maritime rules aim to stabilize fuel markets and provide relief to refiners. Energy traders said the decision could temper recent crude-price volatility.

7. Eli Lilly’s new weight-loss pill Foundayo registered only 3,700 prescriptions in its second week, lagging Novo Nordisk’s oral Wegovy launch. Analysts flagged potential adoption challenges, and Lilly shares fell while Novo rose. Pills are viewed as the next battleground in the fast-growing obesity-drug market.

8. Over 100 cryptocurrency firms petitioned the U.S. Senate to pass the Digital Asset Market Clarity Act. Industry groups argue clearer regulation will foster innovation and protect investors. Lawmakers face increasing pressure to establish a comprehensive framework for digital assets.

9. Iranian Foreign Minister Abbas Araghchi will visit Pakistan to discuss proposals for U.S.–Iran talks, according to Reuters sources. Islamabad is mediating a potential second negotiation round, raising hopes of de-escalation in the Strait of Hormuz standoff. Energy markets reacted with a pullback in oil prices.

10. Australia’s Pilbara Minerals secured up to AUD 38.1 million in government funding for its mid-stream lithium project. The grant from the Renewable Energy Agency supports pilot-plant validation and downstream processing ambitions. Management reaffirmed full-year production targets amid strong electric-vehicle demand.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.